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China's 5 petrochemical giants reaps RMB 27.14 bln in Apr

Published: 25 May 2009 22:46:36 PST

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May. 26, 2009 (China Knowledge) - Total profits of five petrochemical giants in China, including PetroChina<601857><0857><PTR>, Sinopec<600028><386><SNP>, CNOOC Ltd<0883><CEO>, Sinochem Corp and Shaanxi Yanchang Petroleum (Group) Co Ltd, reached RMB 27.14 billion in April, up 44.8% from a year earlier, according to the latest statistics from the China Petroleum and Chemical Industry Association (CPCIA).

In April, the five petrochemical firms reaped RMB 207.72 billion in operating revenue from core businesses, down 28% year on year.

However, sales of oil products in China hit 17.34 million tons in April, up 5.2% from a month earlier. During the period, the country's diesel sales and gasoline sales grew 7.4% and 6.6% month to month, respectively.

In the first four months of this year, the total amount of accumulated profits from the five firms reached RMB 73.74 billion, 9.5% less than a year earlier. Meanwhile, operating revenues of the five firms dropped 29.5% year-on-year to RMB 742.52 billion.

At the end of April, the total output value of China's petroleum and petrochemical industry reached RMB 502.94 billion, down 8.4% year on year.

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